360Ride raises Rs. 1 crore in seed funding

360Ride raises Rs. 1 crore in seed funding

A Bengaluru-based startup 360Ride has raised Rs. 1 Crore, surprisingly at a time when the cab hailing industry is seeing much consolidation. The ride sharing startup has been backed a Delhi angel investor.

The company plans on using the funds in marketing and creating awareness.

Lokesh Bevara, CEO of 360Ride says, “We are very happy to be backed by an investor who understands the industry really well and whose interest are aligned with ours. We are bound with the vision of providing an easy ride sharing platform that can offer a low cost, P2P powered transportation systems and provide a convenient and hassle free commute for everyone.”

360Ride was founded in September, last year. the Investor said, “When Lokesh was pitching the idea we were thrilled with his vision of making ride sharing a main stream transportation in India. We see a huge potential in this segment and are excited to be associated with 360Ride. We believe that 360Ride is going to change the way how ride sharing is done in India.”